Contracts
A Pennsylvania real estate broker who prepares a purchase agreement for a buyer without a real estate license for the property being purchased may still earn compensation if:
AThe buyer was referred by a licensed agent
BA written buyer representation agreement was in place before the purchase
CThe broker properly disclosed their license status in the contract✓ Correct
DThe sale price exceeds $500,000
Explanation
When a Pennsylvania licensee buys property for themselves or their family, they must disclose their license status in writing in the contract. This disclosure preserves their professional integrity and complies with RELRA — but compensation in a personal purchase is different from a client-agent transaction.
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